July 16 (Bloomberg) -- Frank Appel, chief executive officer of Deutsche Post AG, comments on rival United Parcel Service Inc.’s proposed acquisition of TNT Express NV. He also talked about China’s economy and domestic express delivery in the country.
Deutsche Post’s DHL and partner Sinotrans Air Transportation Development Co. sold their money losing domestic express delivery operations in China last year to instead focus on international shipments.
Appel spoke in Hong Kong today.
On UPS-TNT deal:
“If two competitors are integrating, that creates opportunities for the market leader. When they are busy internally, we will be busy with our customers, which I think is a significant competitive advantage.”
On China’s economy:
“There’s volatility in the short term around the world that includes China. But the long-term fundamental trend that China will get a significantly bigger share of the global GDP will continue. There’s a huge rising population of middle class that want to spend their money and that creates a lot of domestic demand.”
On China domestic express delivery:
“We’ve currently no plan to do the domestic express business again because there is a law that doesn’t allow that and there are very strong domestic players already in place.”
To contact the reporters on this story: Jasmine Wang in Hong Kong at Jwang513@bloomberg.net
To contact the editor responsible for this story: Vipin V. Nair at firstname.lastname@example.org